Centaur Completes Purchase of Indiana Grand Created by kblakeslee on 2/21/2013 2:29:06 PM

ANDERSON, Ind. (AP) _ The owner of the Hoosier Park racino in Anderson says it has officially purchased the bankrupt Indiana Grand and Downs in Shelbyville for $500 million.

The Herald-Bulletin reports Centaur Holdings LLC chief executive officer Rod Ratcliff said Wednesday the deal by the Indianapolis-based company was complete. A Delaware bankruptcy judge in November approved the deal, allowing Centaur to seek state and federal regulatory approval to complete the deal. The Indiana Gaming and Horse Racing commissions issued their final approvals Wednesday.

Centaur has said it would pursue adding 300 horse stalls to the tracks' barns over two years. Centaur also said it plans to run thoroughbred and quarter horses at Indiana Downs and standardbreds for Hoosier Park.